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Old October 25th, 2010, 11:57 AM   #301
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Bangkok= East Ring Road


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Old November 3rd, 2010, 11:20 AM   #302
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Heavy traffic prompts BECL to lift growth forecast

Bangkokpost Published: 3/11/2010 at 12:00 AM


Traffic on the the capital's expressways is expected to peak this month with no impact from the floods on Bangkok's outskirts, prompting the SET-listed expressway operator to revise up its 2010 growth forecast to 2% over last year.

Payao Marittanaporn, managing director of Bangkok Expressway Plc (BECL), said traffic was gaining ground this month because there are no public holidays apart from weekends, while the December figure normally benefited from heavy activity ahead of the New Year celebrations.

Traffic on the company's toll roads in October rose to a record high, reaching 1.01 million trips per weekday, with toll revenue topping 20 million baht daily, despite the fact that there were five weekends last month, she said.

Third-quarter traffic grew 4.23% year-on-year to an average of 994,242 trips per day while toll revenue improved 4.34% to 21.82 million baht. Average daily revenue for the nine-month period was 21.06 million baht, compared with 20.88 million for all of 2009.

"Thanks to the improved political atmosphere following the April-May unrest, substantial economic growth, and increasing registrations of new cars, expressway traffic has increased considerably since the third quarter," said Mrs Payao.

"I am confident that average weekday traffic for the rest of the year will not fall below last month's figure. That's why we think growth of 2% over 2009 will be achieved."

Originally, BECL was aiming for 2% revenue growth for 2010 but it cut the projection after the political riots in the second quarter. Now it has upgraded the forecast back to 2% with a bullish outlook for year-on-year fourth-quarter financial results, she added.

In late July, BECL has introduced the Easy Pass electronic toll card with top-up service. Currently, about 220,000 trips or one fifth of motorists are using the service.

Mrs Payao said BECL's business prospects next year would benefit from a reduction in its revenue-sharing ratio with the Expressway Authority of Thailand next year.

Under its concession agreement, BECL will pay 40% of its revenue to the state agency, compared with 60% at present.

The company has also been able to reduce its interest expenses by 100 million baht through the issue of low-interest-rate bonds in the second quarter of this year, she added.
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Old November 4th, 2010, 04:04 PM   #303
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Old November 23rd, 2010, 06:20 PM   #304
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BECL changing lane to keep profit Property development to play bigger role

Bangkokpost Published: 22/11/2010 at 12:00 AM


As its share of expressway revenue will drop next year, Bangkok Expressway Plc (BECL) is seeking a new source of income through property development along its routes through a joint venture with the Expressway Authority of Thailand (EXAT).

Although Bangkok’s gridlock is here to stay, BECL’s share in some portions of the expressway’s revenue will contractually drop to 40% from 50%, starting on March 1 next year, prompting it to look elsewhere for a new revenue stream.

The opportunity is substantial, since state-owned EXAT has a huge number of land plots along and underneath the expressways. It has hired Chulalongkorn University to conduct a feasibility study to explore potential developments, which will be finalised soon. EXAT will make a term of reference before having a conclusion.

Currently, BECL has rental spaces for small shops at two sites near its Pracha Chuen and Srinakarin ramps.

Under the two parties' concession agreement, shared revenue from EXAT from some sections of the expressway _ accounting for 70% of the total _ will decline to 40% from 50%, starting on March 1 next year.

Suttida Sukhanindr, a BECL senior manager, said the reduction would result in a loss of one billion baht in revenue and 600 million baht in profit from expressway revenue. As a result, BECL's annual revenue and profit next year will drop from this year.

However, it will gain 105 million baht from sales of a 30-rai land plot in Bang Pa-in to an electricity generation company, which will be booked in 2011.

The profit picture will remain weak in 2012 but prospects will improve after the company increases toll fees by at least five baht, depending on inflation rates, scheduled to start in September 2013.

Over the next three or four years, BECL also has a chance to earn more from the new expressway between Mor Chit 2 and Kanchanaphisek. The route, under a public-private-partnership, needs approval from the EXAT board and from the cabinet, expected next month.

"We've been following up this route for a long time and have the first right to enter bidding," said Ms Suttida.

The project value excluding land cost will be 18-20 billion baht with construction to take three years.

The new expressway would run from Mor Chit 2, across the Chao Phraya River near the Rama VII Bridge, along Charan Sanit Wong Road, past Tang Hua Seng department store on Sirindhorn Road, and end at Kanchanaphisek Road.

The route has high potential as a large number of residential projects have been developed in the area in recent years.

The investment of 18-20 billion baht will not be a problem for BECL, she said, as it had many sources of fund including project loans from banks and debenture issuing. Its debt-to-equity ratio at the end of the third quarter was 1.16 times while its ceiling is 2.5.

"If someone else wins the bid, BECL will benefit as [traffic] at Mor Chit 2 will increase from an extension with the new route," she said.

According to an EXAT study, the route is expected to attract about 80,000 trips a day initially. "Western Bangkok is a region where maximum expansion of urbanisation is heading," she added.

BECL expects to beat its earlier forecast of 2% annual growth this year to 7.7 or 7.8 billion baht in revenue as total traffic volume rose by 4.23% in the third quarter to 994,242 trips a day.

October traffic volume totalled 990,720 trips a day, down from one million in September due to school holidays. The 10-month average was 962,150 trips a day, up from 952,530 last year.

Revenue in October 2010 was also down from September to 21.74 million baht a day, from 22.14 million baht.

Ms Suttida said the increase in traffic volume in the third quarter reflected the improved economy and high vehicle sales. The number of registered automobiles in Bangkok at the end of October totalled 3.79 million, up from 3.59 million in 2009. Of this number, 30% used the expressway.

She said the opening of the Airport Link rail system in July had a minimal impact. with expressway trips decreasing by 1,500 to 1,700 a day, compared with an earlier estimate of 6,000.
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Old November 27th, 2010, 12:02 PM   #305
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Old December 4th, 2010, 08:33 AM   #306
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Old December 29th, 2010, 09:57 AM   #307
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Tollway to sell B7bn in bonds

Bangkokpost Published: 29/12/2010 at 12:00 AM


Don Muang Tollway Plc (DMT) foresees a promising bottom line next year after it sells 7 billion baht in bonds to refinance existing debt.


Vehicles queue at a booth on the Don Muang Tollway, whose operator is strengthening its financial position ahead of a panned market listing.

The bonds will have maturities ranging from three to 10 years carrying an average coupon rate of about 4.7%, with Siam Commercial Bank as the underwriter.

The bond sale is part of the company's plan to strengthen its financial position, paving the way for the company's initial public offering on the Stock Exchange of Thailand possibly next year, said DMT chairman Sombat Panichcheewa.

"The company's profitability is expected to improve next year, as interest expenses drop significantly from 6%," said Mr Sombat, who also predicted the company's profit in 2010 would outpace the 400 million baht generated in 2009 when it posted a net profit for the first time since its inception in late 1994.

The company also cleared accumulated debt of 5.6 billion baht recorded in 2006 thanks to a strong operating performance and shareholders' equity write-down, enabling the company to pay a dividend for the first time this year.

It posted a net profit of 361 million baht the first nine months this year.

DMT constructed and operates a 21-kilometre elevated tollway from Din Daeng to National Memorial Monument under a 25-year build-transfer-operate (BTO) concession granted by the Department of Highways.

Since its inception, DMT has seen off several risks, including the financial crisis in 1997, the increase and expansion of traffic lanes on Vibhavadi Rangsit highway as well as the construction of a local road in 1998, the opening of the Udon Ratthaya expressway (Bang Pa In-Pak Kret) in 1999, and the relocation of Don Mueang airport in 2006.

From mid-1997 to 1999, traffic volume on the toll road plunged by 60% from an average of 125,996 vehicles per day in 1997 to an average of 50,915 vehicles in 1999. Traffic gradually rebounded and reached an average of 92,581 vehicles per day in 2004 as the economy expanded.

Volume rose 50% in 2005 to 139,166 vehicles per day as the graduated tariff (20 to 43 baht) was replaced with a flat rate of 20 baht. Nevertheless, the opening of Suvarnabhumi Airport in 2006 and an increase in toll rates in 2006 and 2007 caused traffic to decline by 12% in 2006, 17% in 2007 and 23% in 2008.

Despite its volatile traffic profile, Tris Rating expects traffic volume will continue to grow based on the economic recovery, expansion of residential housing in the northern Bangkok area and heavy traffic congestion on free roads.

DMT's operating performance is also expected to improve in tandem with the recovery of traffic flow, toll rate adjustments, and management's ability to effectively manage operating costs. Risks include the lack of strong coordination among government entities responsible for road infrastructure planning and implementation, Tris said.
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Old January 31st, 2011, 08:22 PM   #308
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Tollway firm plans set listing, eyes other fund-raising

The Nation Published on February 1, 2011


Don Muang Tollway is working on a plan to list on the Stock Exchange of Thailand, but is also studying alternative vehicles to raise money, including an infrastructure fund.

Managing director Tarnin Phanichewa said yesterday that the board meeting this month would appoint a financial adviser and a legal adviser for the initial public offering (IPO).

Phatra Securities and UBS Securities were hired to prepare for listing in 2008, but the IPO plan was suspended because of the unfavourable market climate.

The two firms are expected to get the new assignment.

Details on the IPO price and IPO share issue are expected to come out in a few months and the IPO should be conducted this year if everything goes as planned.

The tollway operator will also study setting up an infrastructure fund and select the best approach in terms of return to shareholders.

The company paid dividends last year for the first time since its establishment in 1988.

The two dividend pay-outs totalled Bt571 million.

Last year the company earned Bt450 million on Bt1.5 billion revenue, up from Bt443 million in profit on Bt1.41 billion revenue the year before.

The company will raise its tolls in four years by Bt15, which would boost its revenue. Currently it collects Bt4.8 million to Bt4.9 million per day.
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Old February 14th, 2011, 02:15 PM   #309
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Old February 15th, 2011, 09:44 PM   #310
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Old February 25th, 2011, 08:50 AM   #311
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24-hour border checkpoints proposed

Bangkokpost 19/02/2011


Businesses are proposing that the government open around-the-clock border checkpoints at Sadao in Songkhla, Nong Khai and Ban Khlong Luek in Sa Kaeo to ease traffic congestion.

Niyom Wairatpanij, chairman of the Thai Chamber of Commerce’s committee on border trade development, urged acceleration of 24-hour operations at the three checkpoints, especially in the South at Sadao, which suffers the most from congestion.

He also urged the government to accelerate construction of the US$300-million Hat Yai-Sadao motorway to ease persistent traffic problems between those two points.

Operating around the clock would enhance Thailand’s chances of becoming a regional tourism and logistics hub, said Mr Niyom.

He pointed out that Sadao was a significant checkpoint for both trade and tourism, so the government should add more lanes to the three at present and enlarge the Sadao-Hat Yai road, he said.

A survey of 100 companies in the Greater Mekong Subregion last year indicated non-stop checkpoint operations would increase the logistics efficiency of regional goods supply.

Mr Niyom said facilities should be improved before introducing 24-hour operation, with separate lanes for immigration tourism procedures and customs formalities for goods.

Tharadol Piempongsan, a deputy secretary-general to Prime Minister Abhisit Vejjajiva, sees an opportunity to run the first 24-hour checkpoint at Sadao, bordering Malaysia.

Other checkpoints are in the pipeline for Mukdahan, Mae Sot, Chiang Khong, Nakhon Phanom and Nong Khai.

However, bilateral agreements must be in place before these can be implemented, said Mr Niyom.

The Customs Department reported the main obstacles at various checkpoints are drugs and a shortage of officials.

These are most acute at Mae Sai and Chiang Kong in Chiang Rai, Mae Sot in Tak, Ban Khlong Luek in Sa Kaeo’s Aranyaprathet district, Mukdahan and Nong Khai – all right on the border – as well as in Sakon Nakhon province.

The Foreign Trade Department reported border trade value of 778 billion baht last year, up by 21.7% from 2009. Thai exports totalled 486 billion baht and imports 292 billion, giving Thailand a trade surplus of 194 billion.

The ministry projects growth of 10.5% this year to 860 billion baht – 547 billion with Malaysia (up 10%), 148.6 billion with Burma (up 7.8%), 104.6 billion with Laos (up 20%) and 59.8 billion baht with Cambodia (up 8%).

Tariff reductions for 8,300 items under the Asean Free Trade Area and economic growth of 5-7% in neighbouring countries are factors in the burgeoning trade

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Old March 29th, 2011, 02:15 PM   #312
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Korat City

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Old April 8th, 2011, 10:56 PM   #313
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BECL bidding for new road

Published: 8/04/2011 at 12:00 AM

Bangkok Expressway Plc (BECL) next month will submit its bid proposal for the 18-billion-baht Sri Rat-Outer Ring Road Expressway that is expected to generate 80,000 trips a day.

Managing director Payao Marittanaporn said the project would be developed under a public-private partnership with the government paying for expropriation costs for the 17-kilometre expressway.

Bidding results should be known in June for a concession of 30 years. Construction is due to start in early 2012, finishing in four years, she added.

If BECL wins the bid, it will seek bank loans to cover most of the project cost. With a debt-to-equity ratio of 1:1, BECL has total liabilities of 20 billion baht with repayments due until 2015.

In the first quarter of this year, traffic on BECL expressways rose nearly 3% year-on-year to an average of one million trips a day on weekdays. High oil prices do not appear to have deterred drivers, partly because diesel remains heavily subsidised.

In another development, the BECL board recently approved the company's acquisition of a 7.5% share of the 1,285-

jlmegawatt Xayaburi hydroelectric power project in Laos from the SET-listed contractor Ch. Karnchang, which is the largest shareholder of BECL. The project is set to be operational in 2019.

The plan is part of the expressway operators strategy to diversify as its toll revenue is expected to decline over time. Late last year, BECL said it intended to seek a new source of income through property development along its routes through a joint venture with the Expressway Authority of Thailand (EXAT).

In 2010, BECL posted a 5.93% increase in net profit to 1.8 billion baht although traffic was hard hit by political unrest from March to May. Toll revenue increased by 2.47% to 7.8 billion baht, thanks mainly to improved economic conditions and increased new car registrations.

http://www.bangkokpost.com/business/...g-for-new-road
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Old April 20th, 2011, 01:01 PM   #315
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BECL braces for lower profit Revenue-sharing changes a factor

Published: 20/04/2011 at 12:00 AM

Despite an upgraded forecast for vehicle traffic and toll revenue growth, SET-listed Bangkok Expressway Plc (BECL) says its revenue and net profit will dip this year from 2010 because of changes in its revenue-sharing agreement with the Expressway Authority of Thailand (EXAT).


Managing director Payao Marittanaporn said BECL projected its revenue would drop by 500 million baht this year or about 7% from 7 billion last year, with net profit also declining from 1.8 billion baht earned last year.

Starting last month, BECL's revenue share under its concession with state-owned EXAT fell to 40% from 50%. The condition, however, applies only to two inner-city routes out of the four expressways the company operates, she noted.

Meanwhile, BECL has revised up its traffic growth forecast this year to a range of 4-7% this year from 3% estimated earlier, after traffic rose more than expected to exceed 1 million trips per day over the past two months. The high growth was reported despite high oil prices.

"Thanks to economic growth, a more stable political situation and the higher number of registered new cars, traffic grew beyond our original forecast," she said. "Petrol prices, however, have increased bit by bit but are not too strong to cause a shock among motorists."

"Despite a substantial rise in toll traffic, our revenue will certainly fall this year when compared that of last year and so will the net profit."

In the first three months, traffic rose by 5.3% but the March figure was impressive, rising 10% year-on-year, against growth of just 3% in 2010, she added.

This year, the company has earned 100 million baht from sales of land while interest payments will be reduced by 100 million baht. It has 3.9 billion baht in liabilities due for repayment this year including 2.9 billion worth of debentures and another 1 billion in bank loans.

Mrs Payao said BECL would issue 2 billion baht in new debentures this month, including a one-billion-baht tranche with a maturity of three years and a 10-year tranche at 1 billion.

http://www.bangkokpost.com/business/...r-lower-profit
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Old May 17th, 2011, 03:08 PM   #317
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Switch to tunnels from overpasses to cost BT7 BN

THE NATION Published on May 17, 2011

The Department of Rural Roads will request an additional budget of more than Bt7 billion as it has decided to build tunnels for railways instead of overpasses as earlier planned.

A source from the Transport Ministry disclosed that the Department of Rural Roads has decided to change its plans, which are part of the State Railway of Thailand's Bt176-billion infrastructure programme from 2012 to 2014.

The change boosts the amount of investment to Bt26.2 billion from the Bt19.01 billion earlier planned for 114 overpasses. There are several sites where locals want tunnels instead of overpasses. That will increase construction costs.

On May 3, the ministry proposed the change to the Cabinet, though it has not been reviewed yet.

After the election, the ministry will resubmit the proposal to the Cabinet for approval again.

The Department of Highways and the Department of Rural Roads have been assigned to construct 114 overpasses worth Bt19.01 billion across railways. Of them, 83 overpasses costing Bt15.99 billion go to the Department of Highways and the remaining 31, worth Bt3.02 billion, to the Department of Rural Roads.

The project is urgently needed in the East and Northeast to accommodate Chinese high-speed trains.

The department hopes for speedy approval by the Cabinet. If this happens faster than expected, the project is expected to be completed in 2014.

http://www.nationmultimedia.com/2011...-30155523.html
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Old June 7th, 2011, 07:07 PM   #318
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Old July 1st, 2011, 09:42 PM   #319
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Old July 1st, 2011, 09:56 PM   #320
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Very American feeling, those concrete highways.

I also found out Thailand is the biggest pickup truck market in the world after the United States.
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